The MIBO from Gibraltar-based Acuity Fund and the existing management team at KG Washford secures the company’s future with the expertise of the existing management team and the strategic leadership of Acuity.

Acuity Fund is a buyout private house whose acquisition strategy is to build a group of high quality UK SMEs to provide a comprehensive supply chain servicing the aerospace, military, and defence industries across Europe.

Of key importance is its mission to maintain each target’s employee base, create employee ownership opportunities, nurture the organic growth of each business, and preserve their legacy.

Robin Gower, director at MC Vanguard, said: "There is a lot of goodwill involved with MIBO deals because they secure the long-term future of the businesses and their people.

"In this case, it also offers firms like KG Washford the added stability and vast opportunity of being part of major group consisting of other like-minded businesses across a range of thriving industries throughout Europe.

"This is not just good news for Acuity Fund and the SMEs involved but for British business in general.

"MIBOs may sound like straightforward transactions but they are invariably complex processes. One of the most important facets of our role has been to bring together the mindsets of the background of Acuity’s Board with owner-managers in the SME sector.

"The KG Washford deal will be the first of many similar deals and I’m delighted to say that we ended up with both happy vendors and happy acquirers.”